G'day Mate,
That's the way I do it, tailplane level, or horizontal stabiliser in USA.
High wing upright, low wing upside down, mid wing, depends on how it sits on the balance, if it's stable right way up, then ok, if not turn it over.
I always balance my planes at the rearward end of the balance range, because almost all planes have very conservative balance points, in the instructions.
But I always make sure I have conservative elevator throws, on low rate, for the first flight, with about 20 to 25% more on high rate, so I have somewhere to go if it is not enough.